
1399 




1909 



/Modern 
New Rochelle 

AMD 

The National 
City Bank 




A TENTH a ERSARY MEMENTO 

WITH ASd 3NTRIBUT 



kY THE CHIEF 










Class £_113 

Book.jV55i^2 

CopyiightW. 



COPYRIGHT DEPOSIT. 



1899 1909 

MODERN 
NEW ROCHELLE 

AND 

THE NATIONAL 
CITY BANK 



A TENTH ANNIVERSARY MEMENTO 
WITH ARTICLES CONTRIBUTED BY 
THE CHIEF EXECUTIVES OF THREE 
CITY ADMINISTRATIONS 






Copyright, 1909 
The National City Bank 







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TN THE SAME YEAR THAT NEW RO- 
1 CHELLE BECAME A CITY, THE 
NATIONAL CITY BANK OFFERED ITS 
SERVICES TO THE COMMUNITY 

NOW THAT BOTH CITY AND BANK 
ARE CELEBRATING THEIR TENTH AN- 
NIVERSARY, IT SEEMS APPROPRIATE 
THAT A CONDENSED RECORD OF THEIR 
REMARKABLE DEVELOPMENT SHOULD 
BE MADE IN PERMANENT FORM, BOTH 
FOR THE PRESENT INTEREST OF SUCH 
A RECORD, AND FOR ITS POSSIBLE 
FUTURE USEFULNESS 

THE NATIONAL CITY BANK THEREFORE 
PRESENTS THIS VOLUME TO ITS PA- 
TRONS, WITH SINCERE APPRE- 
CIATION OF THE PART THEY 
HAVE PERFORMED IN THE 
HISTORY OF ITS 
OWN GRATIFYING 
PROGRESS 




HONORABLE MICHAEL J. DILLON 
First Mayor of New Rochelle 




RETROSPECTION 

BY THE HON. M. J. DILLON 

First Mayor of New Rochelle 

EN years is but a short lapse of time as 
days pass in our busy life. Years roll 
along in review rapidly, events accumu- 
late with a speed that almost defy record. 
When I attempt to recall history attending the 
early days of our city, I am compelled to recognize 
the fact that the placing and proper starting of ma- 
chinery necessary to the running smoothly of a 
municipal government is a responsibility that no one 
should accept without due consideration and full 
knowledge of what has to be undertaken. 

The charter enacted by the State Legislature 
transforming New Rochelle into a city was drafted 
by the late John Q. Underhill, J. A. Mahlstedt and 
other influential citizens of this locality. On the 
passage of the act, I was honored by the citizens 
when they asked me to accept a nomination for 
election as the City's first Mayor. I hesitated in 
giving answer, realizing as I did the magnitude of 
duty an acceptance would involve. I was not a 
novice in the line of local office holding, I felt con- 
fident that by experience and knowledge of public 
affairs I was to an extent well equipped to perform 
the work at hand, yet I hesitated. 

New Rochelle had its affairs managed by both 
a town and a village government in years past, and 

Page Nine 



though it had been governed and conducted by meth- 
ods as economical and conservative as is usual with 
towns and villages, yet public improvements, in keep- 
ing with the natural beauties of the locality, were 
sadly lacking. In some respects many sections were 
decidedly primitive, but capable of cultivation and 
unfolding into places of beauty. 

I recognized that my fellow townsmen had a 
right to call me to service, and if such service sought 
me I should respond; accordingly I accepted, and 
was elected First Mayor — an honor that I shall ever 
appreciate. 

In giving ourselves to retrospection, in reviewing 
the events in the brief history of our City, we doubt- 
less recall some things that are pleasant to memory. 

The first three years during the re-creation of 
town and village into the more imposing position of 
a City the way was strewn with many difficulties. 
New dress becoming a bride costs money; if the 
new City was to be clothed in fine raiment as be- 
came it, money would have to be spent. The lack 
of money was one of the first difficulties met, it was 
a fact that neither the town nor the village was at 
the date of their passing out over-burdened with 
cash assets, while the liabilities inherited were con- 
spicuously in evidence. 

The streets and avenues were not mere cow- 
paths, as in primitive times, but they were when taken 
as assigns by the City places where mud, deep and 
lasting, gathered to the great discomfiture of our 
good citizens and hindrances to the free passage, 
to and fro, of vehicles. 

Page Ten 



To better conditions was one of the things that 
my fellow citizens had a right to expect of me. I 
determined to meet these expectations to the best 
of my ability. At the outset I laid down a rule that 
only substantial improvements were worth having, 
and that the taxpayer must be able to recognize that 
every dollar of the people's money had been ex- 
pended judiciously and full worth had been re- 
ceived in return. 

I am now convinced that a calm, unprejudiced 
review of the City's history, in the early years of its 
creation, will develop the truth that the then City 
Administration did all in its power to fulfill all 
promises made in the direction of providing a de- 
sirable City Government and to serve the best in- 
terests of taxpayers. 

Our conveniently situated locality, made beauti- 
ful by nature, had its attractiveness marred by defects 
that, in my opinion, could readily be remedied, 
though the cost might be according. 

Main Street, our principal business thorough- 
fare, was found to be in a state probably similar to 
that of the one street first viewed by the early 
Huguenots on their landing on our shores. It was 
almost impassable on account of the over-abundance 
of mud in the roadway. As soon as the ingenuity of 
man could devise, a handsome asphalt pavement 
drove out the mud and gave us one of the finest 
streets in the state. 

The North Avenue improvement was one of 
the greatest reconstructions during my administra- 
tion. This, one of the first and principal streets in 

Page Eleven 



the old town, underwent a complete transformation, 
and our people have never regretted the expense 
this improvement cost. Here is a boulevard, un- 
usually wide and miles long, leading to the County 
seat and to many other attractive communities. 
Since its completion it has developed into a most 
desirable residential locality; the value of property 
along this street has increased in some instances ten 
fold. The improvement has been the means of 
opening up lands that previously had no outlet, the 
construction of handsome private parks, and the 
building of charming villas and palatial residences in 
close proximity, thereby justifying the judgment 
that suggested the improvement. 

The introduction of improvements and beautify- 
ing of Hudson Park and making the same self sustain- 
ing by collection of rentals. The paving by brick 
of Franklin Avenue, the thoroughfare leading to 
Hudson Park, and the eliminating of a mud road 
bed, makes a drive to the park an exercise most en- 
joyable. Owners of property along this street also 
can testify to the enhancing of values. 

The reconstruction of east Main Street to the 
Larchmont line, the building of a lasting brick pave- 
ment road, answered the prayers of many residents 
on this street. 

The paving with brick of Webster Avenue, 
and the widening of that elevated street, overlook- 
ing the city, had added much to the prosperity 
of the city, opening as it does a channel 
through which desirable citizens can find accessible 
homes, in localities little known before this era 

Page Twelve 



of improvements, in a previously undiscovered 
country. Today thousands reside in the vicinity of 
Webster Avenue who ten years ago knew it not. 
That I assisted in the discovery and development of 
new lands within our borders is especially gratify- 
ing to me. 

The removal of the hideous railroad tracks on 
Centre Avenue and the improvement of that choice 
residential street, though the tracks had to be re- 
moved by the employment of force, was approved 
by residents. This handsome street is paved with 
stone block that are as good now as when laid. 

The paving with brick of west Main Street to 
the Pelham Manor line rid the city of a mud trail 
that should not find place in a civilized community. 
The brick paving of Drake Avenue, from Main 
Street to Pelham road and thence to the entrance 
of Glen Island, was another of the popular improve- 
ments effected. 

The pavement with asphalt of Huguenot Street 
developed what is now one of the City's principal 
business thoroughfares. The upbuilding and paving 
of the several streets leading to the principal railroad 
station contributed to the comfort and convenience 
of citizens generally, as did the prevention of attempts 
of the Railroad Company to close certain streets to 
the detriment of the public. 

Other streets and avenues which I recall as 
having been benefited by needed improvements 
were Cedar Road, Woodland Avenue, Lockwood 
Avenue, Park Avenue, South View Avenue, Winyah 
Avenue, Washington Avenue, Beechwood Avenue, 

Page Thirteen 



Anderson Street, Maple Avenue, Locust Avenue, 
Davis Avenue, Mechanic Street, Cottage Place, 
Lawn Avenue, William Street, Cliff Street, Eighth 
Street, Fourth Street, Garden Street, Second Street, 
River Street, Prospect Street, Quaker Ridge Road, 
Union Avenue, Charles Street, Division Street, 
Rose Street, Fifth Avenue, Depot Place, and in fact 
many other thoroughfares constantly in use, as official 
reports will show. 

The building of substantial bridges, constructed 
of material that would stand the wear of years, was 
an aim of the administration. 

The bill suggested by Justice Keogh to enable 
the City to lease grounds for the establishment of 
free play places for the school children passed the 
Legislature, but failed the signature of Gov. Odell. 
The disappointment of the children explains my 
personal purchase of the Cowdry property on east 
Main Street and approving the same to free use as a 
children's play ground. 

Among the conspicuous improvements in which 
it was my pleasure to participate was the change 
effected in the mode of propelling local surface cars. 
The substitution of up-to-date electric cars for the 
ark-like cars drawn by ancient horses, and provid- 
ing a comfort that should be everlasting. The re- 
quiring of the New York, New Haven and Hart- 
ford Railroad Company that heed be given to the 
wants of their patrons residing in this city. The re- 
quiring of all corporations to pay back taxes. 

The consolidation of the several public school 
districts into one district, and under one government, 

Page Fourteen 



proved to be a great advancement; the change in 
mode of selecting members of the Board of Educa- 
tion, from the elective to the appointive, proves 
quite proper and is beneficial, inasmuch as it holds 
the Mayor responsible, to a considerable degree, 
for acts of men he appoints to this important office, 
especially as the Mayor has power of appointment 
without consent of the Common Council. The 
preparation for the proper training of the young 
should be as carefully considered by the Mayor in 
selecting those to be intrusted with the supervision 
of our schools, as the Board of Education should be 
in choosing teachers who are to direct the training of 
those under their immediate charge. To the selec- 
tion of suitable persons to form the Board of Educa- 
tion I gave profound thought and endeavored 
to secure the co-operation of our best citizens, irre- 
spective of political affiliations. It was fitness for 
the duties at hand, rather than politics, that in- 
fluenced me. I strove to make the Board of Educa- 
tion non-political. I think I succeeded in this 
respect, as the two principal political parties were 
equally divided in that body during the years of my 
administration. As to the men whose names were 
suggested for appointment to this responsible posi- 
tion, I asked as to their qualification, not as to their 
politics. 

Doubtless, it might result to the advantage of the 
City if the responsibility of creating appointive offi- 
cers were bestowed solely on the Mayor, as that offi- 
cer, knowing that he alone would be held to account 
for acts of men chosen, would perform accordingly. 

Page Fifteen 



The division of responsibility for appointments re- 
sults in no particular person being responsible. 

The work of erecting school houses that tend 
to make our young city famous was commenced 
in the first year of the city. I am convinced that 
money appropriated to increase school facilities is 
money well spent, as it is to the credit of our people 
that there has never been stint in this respect. 

In my official capacity I did what I could to 
maintain the high standard attained by the local 
Public Library, acting in conjunction with an ex- 
cellent Board of Library Trustees. A good library 
is an important branch of the public educational 
system. 

The local Fire Department is admitted to be 
one of the best in the State. It is gratifying to re- 
member what was done during the first City admin- 
istration to start a movement for a modern equip- 
ment of horses to be housed and ready at call in 
fire houses, the building of large and handsome fire 
houses and otherwise increasing the efficiency of 
this department. As in the case of building new 
school houses, our taxable citizens were ever ready 
to assist and never complained when funds were 
asked on behalf of the Fire Department. 

As a City it was found necessary to increase 
the Police Department, that sufficient to patrol the 
limited boundaries of the village was not adequate 
to guard increased territory which the City included. 

Recognizing the efficiency of our local force 
our citizens have always acquiesced in any expendi- 
ture having for its purpose the addition of efficiency. 

Page Sixteen 



A reorganization of the Board of Health was an 
assurance of more energetic means toward safe- 
guarding the health of the city. Establishing better 
sanitary conditions and enacting a new code of 
City ordinances to meet new requirements, such as 
can be intelligently understood and which are 
practical. 

The establishing of a bureau for the directing of 
distribution of poor funds in aid of the deserving 
poor of the City. 

Inaugurating a thorough and complete system of 
Sewerage in all streets possible, and exacting a com- 
pliance with laws, thus advancing the health standard. 
Perfecting a system of Street Cleaning that 
guarantees order and neatness. 

Succeeding after several years of strife in secur- 
ing crossings over or under railroad tracks, making 
possible ready communication between all sections 
of the City. 

The establishment of free baths at Hudson 
Park, where numerous and spacious free bathing 
houses were built for use by the public. 

Side and cross walks, constructed of blue stone, 
took the place of rough planks and muddy soil, laid 
in answer to petitions of citizens. 

The construction of attractive paved business 
streets and the rebuilding of avenues in residential 
localities, inspired property owners to renew efforts 
in the development of lands and accordingly valu- 
ations increased. Beautiful private residential parks 
were laid out and people from abroad came in large 
number to dwell therein, thus our City's population 



Page Seventeen 



increased rapidly. Our city became known as 
"The City of Parks." 

In conclusion I may be permitted to call atten- 
tion to a few facts, that proved pleasing to our people. 

The long controversy relative to the price of 
gas was brought to an end by securing a consider- 
able concession in favor of local consumers. Cor- 
porations were compelled, as far as possible, to put 
wires under ground and get rid of unsightly tall 
poles that lined our streets. 

The frustration of attempts of nearby city and 
towns to dump refuse matter from sewers proposed 
to empty into Long Island Sound, and ultimate wash- 
ing of such refuse upon our bathing beaches, was ac- 
complished after a protracted strife at Albany, by 
our defeating proposed legislation. 

That the City's credit be always maintained at 
the highest standard, I insisted that all obligations of 
the City be met at maturity and promptly; by so do- 
ing the good name of the City was upheld and there 
was ever a ready market and liberal premium at 
hand when City bonds were offered for sale. 

What was done in the interest of our City dur- 
ing my administration, though it might be at my sug- 
gestion, could not have been accomplished were it 
not for the aid of the able men associated with me 
in office, and but for the aid of prominent citizens 
out of office, whose counsel I ever found wise, re- 
liable and trustworthy. To these I shall ever owe 
a debt of gratitude. 





HONORABLE HENRY S. CLARKE 
Second Mayor of New Rochelle 




THE CITY ADMINISTRATION 
1902 TO 1907 INCLUSIVE 

BY THE HON. HENRY S. CLARKE 

Second Mayor of New Rochelle 

HAVE received from the citizens of New 
Rochelle the honor of three successive 
elections to the office of Mayor, the first 
term beginning January 1 , 1 902, the last 
term ending December 31,1 907. 

At the time of my first election I had been a 
resident of New Rochelle for thirteen years— long 
enough and active enough in public affairs to have 
become greatly attached to the place and to have a 
firm belief in its future possibilities. 

We then had a population of about fifteen thou- 
sand. The section south of the New Haven Rail- 
road tracks contained very little undeveloped prop- 
erty, but much of the larger area to the Northward 
was still open country, awaiting settlement. 

All through its long town and village history 
New Rochelle had kept an enviable reputation as 
an ideal home community. The question whether 
under new conditions of rapid growth its attractive 
features would be maintained and the character of 
its population remain unchanged seemed to me a 
question for the City Administration to answer. 

Good streets, walks, and transportation service, 
all extending to the furthest out-lying districts, ade- 

Page Twanty-two 



quate lighting, policing, and fire protection systems, 
water supply, drainage, sewage, school buildings and 
educational facilities,— all of these things had to be 
immediately carried forward on a scale to fit 
the needs of a city of double the population we 
then had, because if we were to attract home 
seekers of means and refinement they must find 
these improvements already installed, not merely 
promised for the indefinite future. It was to be the 
one great object and determined policy of the ad- 
ministration to direct the inevitable growth of New 
Rochelle along right lines by making the city attrac- 
tive to the right kind of people. 

To carry out that policy meant a more liberal 
expenditure of money than the citizens had been 
accustomed to; and it was not to be supposed that 
its wisdom would be universally conceded. We ex- 
pected opposition, honest criticism, and partisan de- 
nunciation- --and we got it. But, at the end of each 
administration, with results in view, the administra- 
tion policy was endorsed by increasing majorities 
of the tax paying-voters. If incidental mistakes 
were made, it is nevertheless true (and I am certain 
that the intelligent public will support me in the as- 
sertion) that the general policy was correct ; that the 
uniformly high character of all the new residence 
districts justifies it ; and that the city could not have 
been so developed, and its character fixed for all 
time, by any other means. 

It is not possible in this short article to enter in- 
to details concerning the six years' work of this ad- 
ministration, but the more important public improve - 

Page Twenty-three 



ments originated and carried forward during the 
period may be summarized as follows : 

North Avenue, the most important thorough- 
fare extending northward from the City center, 
contained stone curbings and gutters and was mac- 
adamized as far as Fifth Avenue by our prede- 
cessors. Between 1 902 and 1 904, the Avenue was 
completely curbed, guttered, regulated and macad- 
amized to Cooper's Corners. The tranformation of 
this avenue gave the first impetus to all that develop- 
ment of beautiful and valuable property which has 
since been going on in the northern section of the 
City. It led immediately to the installation of trolley 
car service to and beyond the City limits, connect- 
ing with White Plains, Yonkers and other cities and 
towns throughout Westchester County. 

Main Street prior to 1902 had been improved 
through the business part of the city only. Before 
the close of 1905 it had been made the splendid 
thoroughfare we now have- --a creditable highway 
for the constant pleasure and business traffic through 
New Rochelle to Pelham and New York on the 
west and the Sound Shore towns to the eastward. 

Pelham Road, macadamized from Neptune 
Avenue to the Pelham line, Cedar Road from Locust 
Avenue to Echo Avenue, and Echo Avenue to 
Main Street, completed another beautiful and sub- 
stantial highway through New Rochelle to the east 
and west. 

The foregoing improvements are mentioned 
first because they were conducted on broad and lib- 
eral lines and created ready connection not only be- 

Page Twenty-four 



tween extreme parts of the City, but with all parts 
of the county. 

While these larger works were in progress, a 
general scheme of street improvement was being 
carried out. The work done throughout the city 
cannot here be specified in detail, but the mere 
naming of the streets that appear in the city records 
as having been curbed, guttered, opened, graded or 
macadamized, between 1902 and 1907, indicate 
something of the magnitude of the operations. These 
were Huguenot St., Coligni Ave., Centre Ave., 
Sound View Ave., Clinton Place, Park Ave., Hud- 
son St., Lafayette Ave., Birch St., Rose St., Cliff St., 
Franklin St., Howe Ave., River St., William St., 
Anderson St., Warren St., Crescent Ave., Fifth St., 
Webster Ave., Mayflower Ave., Horton Ave., 
Winthrop Ave., Brook St., Sickles Ave., Charles St., 
Grove Ave., Morris St., Lockwood Ave., Fourth St., 
St. Johns Place, Madeline Ave., Concord Place, 
Residence Park (a large section, including many 
streets not otherwise specified) Lawn Ave., Garden 
St., Kings Highway, Elm St., Poplar Place, Grove 
Ave., Spring St., Bonnefoy Place, Beechmont Ave., 
Cottage Place, Allard Ave., Oak S., John St., Laurel 
Place, Circuit Road, Meadow Lane, Willow Drive, 
Liberty Ave., Castle Place, West Castle Place, 
Hemlock Place, and Parkview Ave. 

Two of the most important street extensions 
made during this period were Webster Avenue and 
Centre Avenue. By means of these two improve- 
ments new connections were made between the 
Northern and Southern divisions of the City. The 

Page Twenty-five 



extension of Webster Avenue passed under the 
New Haven railroad tracks, that of Centre Avenue 
bridged the tracks. The story of difficult negotia- 
tions with the railroad company, and settlements 
advantageous to the city is well known and need not 
be repeated here. 

An engineering work of unusual importance 
was carried out in the construction of the Meadow 
Lane drain, costing $45,000.00, by which that fine 
section of Residence Park was relieved of the ser- 
ious inconvenience and menace to health due to 
frequent overflow of water from the first inadequate 
drain. Other drains were constructed for the relief 
of Lafayette Avenue, Bay View Avenue, Sound 
View Avenue, Clinton Place and Echo Avenue. 

The indispensable sewer outlet at Echo Bay 
was constructed at a cost of $95,000.00. 

A substantial stone dock was built at Hudson 
Park, and later great improvements made in this 
handsome public park by the building of new bath- 
ing houses, pavilion, and sea walls to preserve the 
bathing beach. 

The enterprise in which I take the most per- 
sonal pride and satisfaction- --the work I was so de- 
sirous of seeing completed while in office that I 
served the third term in spite of personal inconven- 
ience and loss— -was the construction of the High 
School building on North Avenue. 

The Board of Education, laboring to provide 
school accommodations for a rapidly increasing 
population, created at the same time a school system 
second to no other in the State. Other appointive 

Page Twenty-six 



boards performed equally efficient work in their 
various departments. 

Although the necessary brevity of this article 
compels me to use the personal pronoun, and to 
omit discussion of the work of individuals, I should 
like to have it understood that the loyal associates of 
my administration are as much entitled as myself to 
whatever credit may be due for these six years of 
progress in New Rochelle. 





Page Twenty-seven 




HONORABLE GEORGE G. RAYMOND 

Present Mayor of New Rochelle 

Inaugurated January 1, 1908 




THE PRESENT AND FUTURE 

BY THE HON. GEORGE G. RAYMOND 

Third Mayor of New Rochelle 

REGARDING the present and future of 
the City of New Rochelle, or as it is very 
properly termed "The Queen City of 
the Sound," I will say that it is one of the 
many municipalities of this great country of ours 
in which it is difficult to make predictions owing to 
the ever increasing growth of its population and 
the consequent necessity of providing adequate 
means of caring for the increase and maintaining 
a high standard as regards facilities for education, 
physical and moral protection of its citizens, making 
public improvements and doing everything that will 
encourage the building of homes and the continuance 
of the many advantages which we now enjoy in our 
beautiful city. 

The problems that arise from time to time are 
many, and their proper solution is of vast moment 
and importance. The problems to be solved are 
not alone those with which municipalities are con- 
fronted, where the population has become fixed and 
the limit nearly reached, but in addition to these the 
necessary and urgent requirements of the future 
must be taken into consideration so that every im- 
provement, in any direction, whether large or small, 
will be only the steady advancement towards a 

Page Twenty-nine 



general scheme for the establishment and founda- 
tion of a great city. 

Most growing communities have more or less 
obstacles to overcome as regards natural advantages. 
This cannot be said of New Rochelle, for I firmly 
believe that our fair City is as nearly perfect in this 
respect as any place in the land, and all that is re- 
quired to develop it and make it possible to keep 
abreast of the demands of the times is for the people 
to stand together as one individual to recommend 
and further everything that will tend to its better- 
ment and deny that which is apt to work to its disad- 
vantage. This is the secret of success in municipal 
growth and prosperity, and without this support, co- 
operation and interest on the part of all the people 
all the time, not alone a few with public spirit 
who are ever watchful and strive to carry the bur- 
dens of the present and delve into the future for the 
welfare of the City and seek continuously for means 
to the end, proper municipal advancement and build- 
ing up so to speak, is practically impossible. With 
this co-operation, the solution of the great problems 
of our times would be a pleasure and much could 
be accomplished. How often, when visiting other 
places, we find so much to criticize and how many 
suggestions occur to our minds as to how the objec- 
tionable features could have been avoided. Yet, 
with all this experience, we fail to see our own 
shortcomings or work together for the purpose of 
giving our own community the benefit of our 
thought and experience. A growing community 
like ours may be likened to an infant inasmuch as it 

Page Thirty 



requires careful attention and -watchfulness on the 
part of those intrusted with its care during the 
period of growth and development. 

I have great faith in our City and its people, 
amongst whom are numbered many who stand pre- 
eminent in all walks of life, and whose counsel and ad- 
vice means so much. Therefore, we are well equipped 
to start in NOW and suggest means by which New 
Rochelle, in future years, may secure and possess all 
the advantages necessary to insure its remaining one 
of the beauty spots of the earth-- -a magnificent City 
of homes, where all may enjoy peace and happi- 
ness—and ever retain the title of "The Queen City 
of the Sound." 

What suggestions are wise for the attainment of 
this object is, I assure you, beyond the power of any 
one person to conceive and can only be determined 
through the co-operation of many minds. It is un- 
necessary to enumerate here all those requirements 
that must be provided from time to time as regards 
physical and moral protection, safeguarding health 
and providing liberal opportunity for education, com- 
fort and convenience to its people, upon which 
much of our growth depends. One suggestion upon 
which, I believe, much of the structural growth of 
the City depends is that of providing a suitable and 
substantial municipal building for all departments of 
the City government. It may be too early to dwell 
at any great length upon this subject, but the men- 
tion of it will not be amiss. When visiting other 
cities, I have always been impressed with the dignity 
and stateliness of municipal buildings and the per- 

Page Thirty-one 



sonal pride a community feels in pointing them out 
to visitors. This matter is one that must be faced 
within a short time in our own City- --not only as 
regards necessity, but also owing to the fact that 
much of the character of the future growth and 
beauty of the City depends upon it. There is no 
question but that this project would do much to- 
ward establishing a high standard in the character 
of further building operations, especially in the 
business section, and much depends upon the pre- 
cedent so created. Of course, projects of this kind 
naturally require a great deal of discussion and con- 
sideration, but, in order to secure a suitable site, the 
matter should soon be taken up. 

To many outsiders the beauties of our City are 
unknown, owing to the first impression created by 
the present conditions as regards the poor station 
facilities and surroundings. This feature could be 
obviated in the future by adopting a scheme of 
beautifying our streets, to be followed out in con- 
nection with the building of the new station by the 
New York, New Haven and Hartford Railroad 
Company, which I have been advised will soon 
begin. 

Much has been said regarding consolidation with 
neighboring cities; but I desire to enter my earnest 
protest against any move in this direction. It it is 
deemed wise to expand and acquire territory, let us 
not lose sight of the fact that it must remain "The 
City of New Rochelle." 

Many improvements are needed and many are 
under consideration at the present time, which we 

Page Thirty-two 



hope to complete during this administration. They 
have been well discussed and only those absolutely 
necessary were decided upon so as not to entail un- 
necessary expense or burden to the taxpayers. 

The fact cannot be disputed, that, with in- 
creased transit facilities and continuous and joint co- 
operation of all, it will only be a matter of a few 
years when the creation of a great city of New Ro- 
chelle with its magnificent buildings, churches and 
schools, system of parks, fine streets and avenues 
and harbors, will be an established fact due princi- 
pally to the result of early thought on the part of its 
people. 

In these days of enlightenment and progress, it is 
almost impossible to venture an opinion as regards 
our future growth but having the advantage of 
healthy location and being so close to the great city of 
New York, the financial center of the world, and 
its wonderful business enterprises, the development 
of our City is assured and to an extent almost im- 
possible to imagine or predict. 

Would it not be a great satisfaction to our good 
Huguenot founders were it possible for them to note 
the progress and development since the time of the 
memorable purchase by them of the tract of land now 
known as "New Rochelle" from John Pell, Esq., for 
the sum of 1625 shillings sterling ($8,000.00) "and 
one fatted calf to be delivered annually on the 
twenty-fourth day of June? " 

In conclusion let us all hope that our most san- 
guine predictions as to the future will be realized 
and, with this end in view, let me again urge upon 

Page Thirty-three 



all the necessity of cc-operation and unity of action 
in all things tending to the welfare of our com- 
munity. 





Mj 




Page Thirty-four 



TO REPLACE THE OLD 
CITY HALL 

THE present City Hall, as intimated in 
Mayor Raymond's article, is one of 
the institutions of New Rochelle whose 
passing away the City contemplates with- 
out regret. Action to hasten that event 
may be stimulated by consideration of 
what might be done with the site on which 
the present building stands, enlarged by 
the removal of a number of old and cheap 
structures now occupying this space. 

The colored frontispiece shows a 
modern municipal building with park-like 
grounds, designed by an eminent archi- 
tect for the express purpose of placing it 
before the citizens as a plan perfectly 
adapted to the site already owned in part 
by the City of New Rochelle. 

The original large, framed water- 
color drawing is on view in the ofEce of 
The National City Bank. 



Page Thirty-five 



THE ANNIVERSARY 
CELEBRATIONS. 

THE tenth anniversary of the City's 
Incorporation, April 26, 1909, was 
made the occasion of a celebration or- 
ganized and conducted by Mayor Ray- 
mond, his associates in office, and com- 
mittees of eminent citizens. 

The following month a series of re- 
ligious and civic exercises were held in 
commemoration of the two-hundredth 
anniversary of Trinity Church whose 
early history is intimately associated with 
the first years of New Rochelle. 

In connection with this, on June 12th, 
the two hundred and twenty-first an- 
niversary of the landing of the Hugue- 
nots who settled at New Rochelle in 1 688, 
was celebrated by a splendid water pag- 
eant at Echo Bay, the arrival of the 
Huguenots and their reception by the 
native Indians taking place at Bonnefoi 
Point, the scene of the original landing. 

The following views are incidental 
to these various celebrations. 



Page Thirty-six 




PARADE IN THE TENTH ANNIVERSARY CELEBRATION- 

Passing the Reviewing Stand 




I he National City Bank 




SCENES FROM THE HISTORICAL WATER PAGEANT 
AT NEW ROCHELLE, JUNE 12, 1908-Landing of the 
Huguenots, 1 688 -Band of Native (S.wanoy) Indians 




«*# 



$ 




SCENES FROM THE HISTORICAL WATER PAGEANT 
AT NEW ROCHELLE, JUNE 12th, 1909-Arrival of 
the Huguenot Ship in New Rochelle Harbor, 1688 




PROPERTY AND HEADQUARTERS OF THE HUGUENOT ASSOCIATION 
OF NEW ROCHELLE— A Huguenot dwelling in the 18th Century; 
occupied after the Revolutionary War by Thomas Paine; 
Front and Back Views. 




HISTORY OF BANKING IN 
NEW ROCHELLE. 

BY HENRY M. LESTER 

HE phenomenal growth of the commer- 
cial banking of New Rochelle has been 
accomplished within the past ten years, 
or since the incorporation of the City in 
1899. At that time, there was one commercial 
banking institution, the Bank of New Rochelle, 
which, after an existence of eleven years, had on 
March 30th of that year deposits of about $414,000 
and total resources $486,000, while in a report made 
to the State Banking Department April 28th, 1909, 
as the New Rochelle Trust Company, the deposits 
were $2, 1 47,000, and the total resources $2,450,000. 
In addition, the City Bank, which began its ex- 
istence in 1 899 and started with nothing, has, as The 
National City Bank, reached deposits of $2,250,000 
and total assets of over $2,750,000, the comparison 
being : 

DEPOSITS TOTAL ASSETS 

1899 ....$ 414,000.00 $ 486,000.00 

1909. 4,397,000.0') 5,200,000.00 

Much of this increase is due to the rapid de- 
velopment of the City, the population having been 
nearly doubled within the ten years. 

During the history of New Rochelle, there have 
been six banking institutions organized. Three Sav- 

Pagc Forty-two 



ings Banks- --if we may include the private Savings 
Bank conducted by Mr. Adrian Iselin for twenty- 
one years, but which was not under the State 
banking department---and three Commercial banks. 
The first bank to be established in New Rochelle 
was an individual bank and existed for about six or 
seven years. The following from the New York 
State Banking Department gives the best informa- 
tion we have in reference to its organization and 
what it accomplished : 

The Bank of New Rochelle was organized as an individual bank 
in the year 1 844, and it was owned by D. Sayre, of New Rochelle, 
Westchester County, N.Y. This bank issued circulating notes and 
deposited State stocks with the Comptroller to secure the redemp- 
tion of same. 

"Received July 25, 1844 
W. W. Vanzandt 

Know all men by these presents that I, Dennie Sayre of New 
Rochelle, in the county of Westchester and State of New York, have 
constituted and appointed, and do hereby constitute and appoint, 
Warren Jenkins, gentleman, of the City of New York, my true and 
lawful attorney for me, and in my name to demand, receive and re- 
ceipt for all dividends or interest which now is or hereafter may be 
due to me, or to the Bank of New Rochelle, on stocks which now 
are, or hereafter may be deposited with the comptroller of the State 
of New York on behalf of said Bank of New Rochelle, together 
with all surplus reversions or remainders pertaining to any stocks 
which now are or hereafter may be deposited with said comptroller, 
until the amount so received by the said attorney or his representa- 
tive shall amount in the aggregate to twelve thousand dollars. And 
I do further hereby expressly authorize and empower my said attor- 
ney, his heirs, executors and administrators to appoint one or more 
attorneys under him or them with full power and lawful authority 
to do and perform all and sundry acts and things which my said 
attorney might or could lawfully do in the premises, and this power 
of attorney shall not abate by the death of either party and is hereby 

Page Forly-lhree 



declared to be irrevocable. And I hereby ratify and confirm all 
that my said attorney or any attorney under him may lawfully do in 
the premises. 

Witness my hand and seal this 23rd day of July, 1844. 
Witness, John Deane. Dennie Sayre. 

" Bank of New Rochelle, August 1, 1844. 
Hon. A. C. Flagg, 

Comptroller. 
Please give to Warren Jenkins, Esq., of New York, a power of 
attorney to collect the interest on the stocks deposited or which may 
be deposited hereafter with you on account of the Bank of New Ro- 
chelle, as I have assigned the same to him for value received. This 
order is and is to be considered irrevocable. 

Dennie Sayre, 
Pres. Bank of New Rochelle." 



"New York, August 12, 1844. 
W. W. Vanzandt, Esq., 

Chief Clerk. 
Above I hand you an order from D. Sayre, President, for divi- 
dends on State stock which you will please file in your office. 
Very respectfully, 

Warren Jenkins, 51 Wall Street." 

"New Rochelle, April 24, 1846. 
Hon. A. C. Flagg, Esq., 

Comptroller of State of New York. 
Dear Sir: 

I have transferred to Statis Barton, Esq., for many years past a 
citizen and resident of this place, all my right, title and interest in the 
Bank of New Rochelle, Westchester County, including all its assets, 
rights, privileges and immunity. You will therefore please make the 
necessary transfers on your books, and hereafter recognize him as 
owner of said Bank and pay to him all dividends which may be- 
come due on the stocks in your hands in trust for said bank. 

Warren Jenkins." 
Page Forty-four 



"State of New York 
Westchester County: 

Dennie Sayre of Pound Ridge, in said county, being duly sworn, 
doth depose and say that he does not own the stock deposited with 
the Comptroller of the State of New York to secure the issues of the 
Bank of New Rochelle or any part or portion thereof, and that he has 
no interest therein except the salary which he receives as president 
of said bank. May be so considered and further saith not. 

Dennie Sayre. 
Sworn this 23rd day of July, 1849, 
before me, James Huntington, Justice of the Peace." 



"State of New York ) gg 
Westchester County: f 

Statis Barton of New Rochelle in said county, being duly sworn, 
doth depose and say that he is the sole owner of the stock deposited 
with the Comptroller of the State of New York, to secure issues of 
the Bank of New Rochelle in said State of New York, and further 

saith not. 

Statis Barton 

Sworn this 23rd day of July, 1849, 

before me, James P. Huntington, Justice of the Peace." 



We cannot find reports of this bank to the comptroller, nor a 
circulating note issued by the bank. Dennie Sayre was President, 
and Statis Barton Cashier, for most of the time during which it was 
in existence. This bank having failed to redeem its circulating notes, 
according to law, the bonds and mortgages held in trust by the Bank- 
ing Department were sold at Mechanics Exchange, Albany, on the 
seventeenth day of December, 1851— and the stocks being passed due, 
the proceeds, together with the proceeds of the sale of mortgages, 
were deposited in the Mechanics &, Farmers Bank, Albany, and the 
New York State Bank, Albany. The notes secured by stocks only, 
were redeemed at par and a dividend of 8 1 °fo declared on all the 
notes issued to above named bank, secured by stocks and real estate. 

Page Forty-five 



The Bank had its office on Pelham Road, on the 
site recently occupied by the office of the J. A. 
Mahlstedt Lumber &h Coal Company, near the en- 
trance to the property of Mrs. H. A. Noyes. At the 
time the Bank was in existence, this part of the vil- 
lage promised to be the future business centre ; the 
Neptune House, near by, then a well known and 
popular Hotel, with its stores and steamboat 
connection with New York City, formed the main 
activities of business for the town. 

The second Bank to be organized was the New 
Rochelle Savings Bank, which occupied quarters on 
Main Street, at the corner of Church Street, in the 
building now occupied by the New Rochelle Water 
Company. The following facts in reference to this 
institution are supplied by the New York State 
Banking Department. 

"The New Rochelle Savings Bank was incor- 
porated April 24th, 1 865, and the following named 
persons were the incorporators : 

John Stephenson A. B. Corwin 
John A. Devean John D. Comstock 

Staats Bartow Lawrence D. Huntington 

Samuel B.Underhill Charles H. Roosevelt 
William Pinckney George Wilson 
Thomas H. Fields Robert Jaffrey 

George J. Penfield 
"It commenced business January 7th, 1866. On 
January 1st, 1867, it reported one hundred and five 
open accounts, and on same date, amount due de- 
positors was $14,231.50. It failed December 22nd, 
1877, and Edward M. Tompkins was appointed re- 

Page Forty-seven 



ceiver. Its last examination 
showed the following condition 
ASSETS 



made July, 1877, 



Bonds and mortgages 
U. S. bonds, 67 
Yonkers City bonds 
Eastchester town bonds 



Amt. at par 

$6,600 
1,000 

6,500 



Furniture 

Cash in safe 

Cash with T. L. Disbro, Treas. 

Cash in National Trust Co. 



Value 

57,227.00 
1,050.00 
6,500.00 



821.88 

2,848.00 

116.16 



Interest accrued 



LIABILITIES 



Due depositors 

Interest accrued est. for July 1st 

Due National Trust Co. 



$43,778.83 
1,365.00 
5.700.00 



Surplus 



INVESTMENTS, Etc. 



Bonds and mortgages 
U. S. Bonds 
Premium on gold int. 
City and town bonds 



Amt. at par 

$30,300 
6,600 

7.500 



CHARGES 



Int. to depositors and on loan 
All other charges 

Deficiency of income 



Revenue 

$2,121.00 

396.00 

19.80 

525.00 



$2,860.00 
325.00 



Totals 

$30,300.00 



14,777.00 
50.00 



3,786.04 
2,250.00 

$51,163.04 



50,843.83 
$ 319.21 



Totals 



$3,061.80 



3,185.00 
"$ 123.20 



Page Forty-eight 



"A committee was appointed by the trustees of 
the Savings Bank and the depositors in that institu- 
tion, and they made an investigation of the bank's 
management for the past five years. It indicated 
that the bank's funds had been embezzled in each 
year during that period as follows: In 1873, $20; 
1874, $1,090; 1875, $121.88; 1876, $3,268.75; 
1877, $6,427.85; total, $10,928.48. The largest 
theft at one time was $2,500, and the smallest $10. 
The defaulter, in a letter to the trustee, set down 
the amount of his defalcation at $12,000. 

"The receiver reported March, 1880, that the 
amount due depositors was $59,470. Two dividends 
had been paid, March, 1878, 40 per cent, and May, 
1879, 12 per cent., in all $31,016. A further divi- 
dend depended on a suit against the trustees. 

"Benjamin Badeau, of New Rochelle, succeeded 
Mr. Tompkins, deceased, as the receiver. Receiver 
Badeau reported January, 1883, that the aggregate 
amount realized from the assets of the bank to Jan- 
uary 1, 1883, was $43,456.48, from which two 
dividends have been declared of 40 and 12 per cent, 
respectively. The expenses of the receivership to 
January 1, 1883, were $3,629.73 as follows : To re- 
ceiver for fees and commissions, $61 1.71 ; to clerks 
and accountants, $30; to counsel or attorney, $1,- 
54 1 .03; other expenses of the receivership, $ 1 ,346.99. 
The receiver reported that the court had not ex- 
tended the time for the final closing of the trust, and 
if he were enabled to pay any further dividend it 
would be a very small one . The remaining assets 
of the bank were : Cash, $ 1 ,037.24, and a judg- 

Page Forty-nine 



ment of the face value of $ 1 ,400, the real value of 
which was doubtful. 

"Receiver Carpenter (who succeeded Mr. Ba- 
deau) reported in 1 887, as follows : 

Amount to be paid on account of third dividend of one 

and one-half per cent, now in course of payment $892.25 

Total payments for all expenses of the receivership to 

the date of this report 291.51 

"The assets of the institution were not sufficient 
for payment of further dividends, and the receiver- 
ship was finally closed on completion of third 
dividend. " 

During the next four years the town had no 
banking facilities, not even for the accommodation 
of those who desired to deposit small savings. Mr. 
Adrian Iselin, with the generosity and liberality for 
which he was noted, opened an office in the base- 
ment of the New Rochelle Water Company build- 
ing for the convenience of those who desired to lay 
aside sums of money for future necessity. 

The following facts prepared under the direc- 
tion of Mr. Columbus O'D. Iselin will explain the 
plan and scope of this enterprise during the twenty- 
one years of its existence. 

"There was no Savings Bank in New Rochelle 
in 1881, when Mr. Adrian Iselin decided to open an 
office to receive deposits. It was not a banking in- 
stitution in the legal meaning of the term, but a 
private office where, under Mr. Iselin's guarantee, 
money was received, drawing interest at the rate of 
three per cent, per annum, payable semi-annually. 

"The main object was to provide a convenient 

Page Fifty 



depositary for the earnings of the working class, and 
no accounts were taken in excess of $500. The office 
was only open on Wednesday and Saturday even- 
ings, from six to nine o'clock. 

"The office opened on July 1st, 1881; on that 
evening seventeen accounts were received, aggre- 
gating $6 1 0.25. The deposits accumulated rapidly, 
both in number and importance, and the office con- 
tinued with great success up to 1902, when Mr. 
Iselin decided to close it after twenty-two years of 
business. The last account was opened on June 7th, 
1902. On that date, there were 3624 open ac- 
counts, aggregating $325,504.92. 

"Owing to his advanced years Mr. Iselin wished 
to be relieved from his personal responsibility; further- 
more, the banking facilities were greatly improved, 
and the two New Rochelle business banks had 
opened savings departments and were paying in- 
terest on deposits. 

"At the closing of the office, on July 1st, 1902, 
the accounts were as follows : 

Total number of accounts opened July 1, 1881, 

to July 1,1902 7369 

Total number of accounts closed July 1, 1881, 

to July 1, 1902 4028 

Total number of accounts on July 1, 1902 3841 

Total amount of deposits July 1, 1881, to July 1, 1902.. $1,843,828.81 
Total am't of withdrawals July 1, 1881, to July 1, 1902... 1,527,306.74 

Amount to be paid off on July 1st, 1902 $ 816,522.07 

In the year 1888 the second commercial bank 
was organized under the name of the Bank of New 
Rochelle; although having the same name as the first 

Page Fifty-one 



bank referred to the two had no connection, the 
first having been a semi-private bank, with no capi- 
tal stock and operating with very little supervision 
from the State Banking Department. 

The second Bank of New Rochelle was a well 
organized institution under the strict and rigid laws 
of the State of New York, and during the twenty- 
one years of its existence has had an honorable 
and successful career under the presidency of Mr. 
W. W. Bissell, who has been at its head during the 
entire time. 

The Bank of New Rochelle opened for busi- 
ness on September 5th, 1888, with the following 
Officers and Directors : 

OFFICERS : 

WILLIAM W. BISSELL, President 
GEORGE FERGUSON, Vice-President 
HENRY H. TODD, Cashier 

DIRECTORS: 

William W. Bissell J. A. Grenzebach 

George Ferguson Edward Lambden 

W. M. Reynolds Bradford Rhodes 

A. B, Hudson Alonzo Guest 

John Q. Underhill A. Mahlstedt 

James W. Todd S. C. Knapp 
James Gibson, Jr. 

The business interests of the town made the es- 
tablishment of this bank a necessity- --as the business 
men as well as individuals were compelled to do 
their banking in Mount Vernon or New York City. 

The first banking house occupied by this insti- 
tution was the one story building on Center Avenue, 

Page Fifty-Two 



adjoining the Ferguson Building, and until recently 
occupied by the Woman's Exchange. In 1893 a 
new banking building was erected on Main Street 
near Banks Street, and in 1903 this building was en- 
larged to nearly double the size of the original build- 
ing, and in 1 907 and 1 908 the premises were trans- 
formed into the present imposing office building of 
the New Rochelle Trust Company. 

The Bank of New Rochelle started with a 
capital of $30,000 ; this was increasd to $100,000 
m 1900. In 1901 the Bank of New Rochelle be- 
came the New Rochelle Trust Company, and in 
1907 the capital was increased to $200,000. The 
present Officers and Directors are : 
OFFICERS: 
WILLIAM W. BISSELL, President 
ROBERT P. CARPENTER, Vice-President 
HENRI J. VAN ZELM, Secretary 
J. A. HUNTINGTON, Ass't Secretary 
J. MARSHALL PERLEY, Trust Officer 

DIRECTORS: 
William W. Bissell Henry D. Phelps 

Albert W. Mahlstedt Robert P. Carpenter 

Winfield S. Spencer Henri J. van Zelm 

Alonzo Guest Thomas S. Drake 

James Gibson, Jr. J. Addison Young 

H. E. Colwell Samuel F. Swinburne 

Edson S. Lott 

A summary of the statements made by the 
Bank of New Rochelle to the State Banking De- 
partment from 1888 to 1902, and by the New Ro- 
chelle Trust Company from 1902 to May 1st, 1909, 
wnTbe found at the end of this paper. 

Page Fifty-three 



The City Bank, the latest of the Commercial 
Banks, was organized in the spring of 1899- --the 
year the City of New Rochelle received its charter 
—and in honor of the new City it was named the 
"City Bank." This institution began business in the 
Crennan Building, Main Street, opposite Lawton 
Street, on July 10th, 1899, with a capital of $50,000 
and a paid in surplus of $5,000. The Officers and 
Directors at that time were : 

OFFICERS: 

HERMAN HENNEBERGER, President 
CLARENCE S. McCLELLAN, Vice-President 
GEORGE F. FLANDREAUX, Cashier 

DIRECTORS: 

Joseph T. Brown Herbert T. Jennings 

Alexander B. Crane John F. Lambden 

Herman Henneberger John W. Lounsbury 

Thomas R. Hodge Clarence S. McClellan 

Henry A. Siebrecht Howard R. Ware 

Edward C. White 

The City Bank prospered from the first and in 
1 902 changed from a State bank to the National 
System and became The NATIONAL ClTY Bank. 

The rapidly increasing business soon made its 
cramped quarters inadequate, necessitating the con- 
sideration of larger banking rooms, and after many 
months deliberation, it was decided to build a mod- 
ern and well equipped building for the exclusive 
use of the Bank. This was undertaken in the early 
spring of 1906 and the building was occupied by 

Page Fifty-four 



the Bank on September 3rd, 1908. The present 

Officers and Directors are : 

OFFICERS: 
HENRY M. LESTER, President 
JOSEPH T. BROWN, Vice-President 
GEORGE F. FLANDREAUX, Cashier 
GEORGE W. LIPPENCOTT, Ass't Cashier 

DIRECTORS: 

John G. Agar Henry M. Lester 

Joseph T. Brown Clarence S. McClellan 

Robert C. Fisher Charles Pryer 

George F. Flandreaux Henry A. Siebrecht 

John F. Lambden George A. Suter 

Howard R. Ware 

A summary of the reserve, deposits, surplus and 
profits taken from the official statements made to 
the New York State Banking Department and the 
Comptroller of the Currency, will be found at the 
close of this article. 

The last banking institution organized was the 
People's Bank for Savings which has now been in 
existence for three years, having opened for busi- 
ness on April 9th, 1906, in the New Rochelle Water 
Company Building on Main Street, in the same 
room formerly occupied by the New Rochelle Sav- 
ings Bank and by Mr. Adrian Iselin for his private 
saving institution. The original Officers and Trust- 
ees were : 

OFFICERS: 

HENRY M. LESTER, President 
EUGENE LAMBDEN, First Vice-President 
CHARLES PRYER, Second Vice-President 
ALFRED L. HAMMETT, Secretary 

Page Fifty-five 



TRUSTEES: 

John Conlon Henry M. Lester 

George T. Davis Geo. W. Mahlstedt 

R. Condit Eddy Walter R. Marvin 

Robert C. Fisher John F. New 

Geo. F. Flandreaux Charles Pryer 

Jacob F. Frantz Samuel F. Swinburne 

William Kirchhoff L. E. Van Etten 

Eugene Lambden Howard R. Ware 

John F. Lambden George Watson 

who all continue to the present time, with the addi- 
tion of George E. Galgano, John A. Peck and Benja- 
min Stearns, who were added to the Board about a 
year after the opening of the Bank, when the num- 
ber of trustees was increased from eighteen to 
twenty-one. 

A little over a year ago it was found necessary 
to change the location of the Bank and a commo- 
dious banking room at No. 252 Huguenot Street, 
corner of Mechanic Street, was secured. The busi- 
ness of the Bank has been steadily increasing, so 
that the People's Bank for Savings occupies a unique 
position among the Savings Banks of Westchester 
County, standing in the front rank as to increase in 
deposits and increase in new depositors. 

COMPARATIVE STATEMENT of WESTCHESTER COUNTY 

SAVINGS BANKS, FOR YEAR ENDING 

JANUARY 1, 1909 

GAIN OR LOSS IN DEPOSITS: 



GAIN LOSS 



1 People's Bank for Savings, New Rochcllc. $32,036.66 

2 Home Savings bank, White Plains $ 18,599.83 

3 Union Savings Bank, Mamaroneck 28,451.86 

4 Greenburg Savings Bank, Dobbs Ferry. 31,722.63 

5 Eastchester Savings Bank, Mt. Vernon.. 42,209.84 

6 People's Savings Bank, Yonkers 50,479.60 

Page Fifty-six 



7 Sing Sing Savings Bank, Ossining 85,324.84 

8 Port Chester Savings Bank 1 10,^24.50 

9 Yonkers Savings Bank 126,831.64 

10 Westchester Co. Savings B'k, Tarrytown 202,574.98 

11 Peekskill Savings Bank . . _. 259,972.32 



GAIN OR LOSS IN ACCOUNTS 



GAIN LOSS 



1 Home Savings Bank, White Plains 444 

2 People's Bank for Savings, New Rochelle . 336 

3 Westchester Co. Savings B'k, Tarrytown . 101 

4 People's Savings Bank, Yonkers 75 

5 Port Chester Savings Bank 29 

tf Sing Sing Savings Bank, Ossining 12 

7 Union Savings Bank, Mamaroneck 5 

8 Greenburg Savings Bank, Dobbs Ferry.- 1 

9 Eastchester Savings Bank, Mt. Vernon..- 2 

10 Yonkers Savings Bank - 57 

1 1 Peekskill Savings Bank 108 

On may 1st, 1909, the People's Bank for Sav- 
ings had on deposit $134,548 and had 1243 active 
accounts. During the little more than three years of 
its existence it had received a total of $345,735 and 
paid out $211,187, and had opened 1897 accounts, 
of which 654 had been closed. 

The position of these three banks is unusually 
strong, and the future points to the probability of 
their holding the first place among the banking in- 
stitutions of Westchester County. 

The following shows the condition of the Na- 
tional and State Banks and the Trust Companies of 
Westchester County, made April 28th, 1909, by the 
simultaneous call of the Comptroller of the Currency 
and New York State Banking Department. The 
high position held by the two Commercial Banks of 
this City is shown in the following tables. 

Page Fifty-seven 



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Page Sixty-three 



OFFICERS AND DIRECTORS 

OF 

THE NATIONAL CITY BANK 

NEW ROCHELLE, N.Y. 

1909 

HENRY M. LESTER, President 
JOSEPH T. BROWN, Vice-President 
GEORGE F. FLANDREAUX, Cashier 
GEORGE W. LIPPENCOTT, Ass't Cashier 



DIRECTORS : 

JOHN G. AGAR HENRY M. LESTER 

JOSEPH T. BROWN CLARENCE S. McCLELLAN 

ROBERT C. FISHER CHARLES PRYER 

GEORGE F. FLANDREAUX HENRY A. SIEBRECHT 
JOHN F. LAMBDEN GEORGE A. SUTER 

HOWARD R. WARE 



AUGUR SWYERS a MACHOLD NEW YORK 



JUL 



1 1909 



